Guideline Value for Gurudev Nagar

Gurudev Nagar guideline value

The current guideline value of Gurudev Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Gurudev Nagar has changed

The guideline value for Gurudev Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, reflecting an 8% rise. Prior to that, in 2017, the guideline value was Rs 804 per sq.ft, marking a significant increase of 49% from that year to 2023. The overall increase from 2017 to 2024 is 62%.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for Gurudev Nagar.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Gurudev Nagar's 2024 figure below that median.

• Guru Ragavendra Nagar (Ward No.11): Rs 1,300 per sq.ft (2024)
• Guru Raghavendra Samy Colony: Rs 1,300 per sq.ft (2024)
• Gowri Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Gowri Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Gowri Nagar Main Road (Ward No.24): Rs 1,300 per sq.ft (2024)
• Gowri Nagar: Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Gurudev Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value totals Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gurudev Nagar?

The Sub Registrar Office that covers Gurudev Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the registration department. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gurudev Nagar?

The current guideline value of Gurudev Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, marking a total increase of 62% over this period.

What is the land classification of Gurudev Nagar?

Gurudev Nagar falls under the Residential Class III Type - I land classification.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property in Gurudev Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.